China Manufacturer News

China’s tourism industry reaped an revenue of 1.26 trillion yuan (185 billion U.S. dollars) in 2009, up 9 percent year on year, on the back of booming domestic travel.

Total revenue in China’s tourism industry is expected to grow 13 percent to hit 1.4 trillion yuan (205 billion U.S. dollars) in 2010, as the country rolls out favorable policies to back the industry, said the China Tourism Academy in a report released Thursday.

China’s Commerce Minister Chen Deming said here Thursday the stability of the Chinese currency contributes to the recovery of the world economy while voicing concerns over the strength of the U.S. dollar.

China’s rapidly expanding and modernizing rail network will record 1.64 billion passenger journeys in 2010, up 120 million or 7.6 percent from last year, Railways Minister Liu Zhijun said Thursday.

China’s power generation capacity rose 10.23 percent to 874 million kilowatts by the end of 2009, second only to the United States, according to figures released Thursday.

Ford vehicle sales in China rose 44 percent to 440,619 units in 2009 from the previous year, said Robert Graziano, chairman and CEO of Ford Motor China, in Shanghai Thursday.

China’s investment in southeast Asia will rise rapidly as firms become more eager to go abroad with economic recovery, a senior commerce official said Thursday.

Fueled by a massive stimulus package and bank credit, China’s economy grew at an enviable pace last year given the world economy was in deep recession. For growth to keep increasing steadily, the government must focus on trimming industrial overcapacity and spurring consumer spending this year.

China Vanke Co., Ltd., the country’s largest real estate enterprise, said its annual sales jumped 32.5 percent year on year to 63.4 billion yuan (9.3 billion U.S. dollars) in 2009.

Chinese hi-tech firm Hanwang Technology said it expected shipments of its e-book readers to increase 400 percent this year, as demand for the portable reading device grows both domestically and overseas, the China Daily reported Thursday.